WESTERN ALLIANCE BANCORPORATION
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
WAL$77.20+2.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions, except shares and per share amounts) | ||
| Assets: | ||
| Cash and due from banks | $497 | $320 |
| Interest bearing deposits in other financial institutions | 3,099 | 3,776 |
| Cash and cash equivalents | 3,596 | 4,096 |
| Investment securities - AFS, at fair value; amortized cost of $19,303 and $14,178 at December 31, 2025 and 2024, respectively (ACL of $— and $0.4 at December 31, 2025 and 2024, respectively) | 18,788 | 13,468 |
| Investment securities - HTM, at amortized cost and net of allowance for credit losses of $12.9 and $16.4 (fair value of $1,427 and $1,309) at December 31, 2025 and 2024, respectively | 1,571 | 1,510 |
| Investment securities - equity | 79 | 117 |
| Investments in restricted stock, at cost | 248 | 232 |
| Loans HFS | 3,498 | 2,286 |
| Loans HFI, net of deferred fees and costs | 58,677 | 53,676 |
| Less: allowance for credit losses | (461) | (374) |
| Net loans held for investment | 58,216 | 53,302 |
| Mortgage servicing rights | 1,494 | 1,127 |
| Premises and equipment, net | 442 | 361 |
| Operating lease right of use asset | 131 | 128 |
| Bank owned life insurance | 1,057 | 1,011 |
| Goodwill and intangible assets, net | 649 | 659 |
| Deferred tax assets, net | 349 | 281 |
| Investments in LIHTC and renewable energy | 593 | 606 |
| Other assets | 2,063 | 1,750 |
| Total assets | $92,774 | $80,934 |
| Liabilities: | ||
| Deposits: | ||
| Non-interest bearing | $24,353 | $18,846 |
| Interest bearing | 52,806 | 47,495 |
| Total deposits | 77,159 | 66,341 |
| Other borrowings | 5,240 | 5,573 |
| Qualifying debt | 1,076 | 899 |
| Operating lease liability | 160 | 159 |
| Other liabilities | 1,193 | 1,255 |
| Total liabilities | 84,828 | 74,227 |
| Commitments and contingencies (Note 18) | ||
| Equity: | ||
| Preferred stock (par value $0.0001; 20,000,000 authorized; 30,000 shares (12,000,000 depositary shares) issued and outstanding and liquidation value per depositary share of $25 at December 31, 2025 and 2024) | 295 | 295 |
| Common stock (par value $0.0001; 200,000,000 authorized; 112,491,068 and 112,897,807 shares issued at December 31, 2025 and 2024, respectively) and additional paid in capital | 2,232 | 2,245 |
| Treasury stock, at cost (2,981,687 and 2,845,201 shares at December 31, 2025 and 2024, respectively) | (137) | (125) |
| Accumulated other comprehensive loss | (344) | (534) |
| Retained earnings | 5,607 | 4,826 |
| Total Western Alliance stockholders’ equity | 7,653 | 6,707 |
| Noncontrolling interest in subsidiary | 293 | — |
| Total equity | 7,946 | 6,707 |
| Total liabilities and equity | $92,774 | $80,934 |
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